Hannuri Law was established with the goal to represent the minority shareholders and investors in the securities-related matters, including litigation.
Korean financial market is still under-developed in many aspects. Often times, we observe stock price manipulation and inside trading in both KSE (Korean Stock Exchange) and KOSDAQ. Additionally, listed corporations undertake irregular transactions such as misrepresentation, unfaithful public disclosure, and accounting fraud. Regardless of recent reform in the corporate governance area, large-sized entities, such as Chaebols, are still vulnerable because of their opaque management-style.
Some management put interests of their own or that of a few controlling shareholders’ ahead of those of the entire shareholders. The institutional investors are reluctant in enhancing the corporate governance regarding many Korean corporations. Many brokerage houses or investment firms tend to care more about the entities’ profits than the interest of their own customers. Fund managers, sometimes, are involved in mischievous activities by participating in price manipulation using clients’ funds. There exist many fraudulent schemes that investors’ must be alert.
Such irregular transactions are major impediments not only for the development of Korean financial market but also for Korea’s national economy.
Hannuri Law believes that, without the appropriate level of investor protection, Korean financial market cannot promise any brighter future.
One of the reasons why the investors are not properly protected in Korean market is because of the less-developed protective mechanism. Even more true is the fact that the investors do not fully utilize the tools that are already in place. According to the relevant Korean law, stock price manipulation and inside trading using non-public information are strictly prohibited. However, the reason why such illegal transactions are still in existence is because the government authorities and judicial department are not stringent enough to eradicate such illegal transactions.
In particular, those perpetrators often assume that the disgruntled investors are not likely to bring a legal action. The investors have been disrespected because of the fact that they are not easy to unite. There are also other problems. Securities-related lawsuits require experts but, unfortunately, there are not that many experts in this area.
Hannuri Law often engages in initiating legal actions, including securities-related class actions, in order to cease illegal transactions or expropriation.
It is the investors’ right and duty to take appropriate measures, both legal and non-legal, to overhaul fraudulent activities in the market. Hannuri Law, while pursuing justice, will try its best to protect the clients’ interest and redress the financial losses.
Hannuri Law is consisted of attorneys with many years of experience in investment-related lawsuits and disputes arising from corporate governance. Hannuri Law is equipped with expertise, devotion and teamwork. We employ strategic and professional approach in dealing with the securities matters.